Tuesday, May 30, 2023
(May 30, 2023) Fairmont, NE – POET, the world’s largest biofuel producer, applauded final passage of landmark legislation to ensure that drivers statewide can save money with E15 fuel, made with Nebraska bioethanol. Authored by Sen. Myron Dorn (R-Adams), the E15 Access Standard Act (LB 562) will unlock access to E15 at Nebraska fueling stations and provide qualifying retailers a tax credit for every gallon sold.
“Ensuring the freedom to fuel up with E15 will drive economic opportunities across Nebraska from farms to filling stations,” said Joshua Shields, Senior Vice President at POET. “E15 access will grow in-state demand for corn and bioethanol and put Nebraskans’ hard-earned gas money to work across the state.”
Last year, the average retail price of E15 in Nebraska was 17 cents less per gallon than E10. A recent study showed transitioning from E10 to E15 could save Nebraskans $55 million annually. Shifting to E15 statewide would also increase the demand for corn by 14.5 million bushels per year, boosting economic activity in Nebraska by more than $143 million annually and supporting more than 3,000 jobs.
“Governor Pillen, Senator Dorn, and the Nebraska legislature showed tremendous leadership and delivered a major win for Nebraska’s farmers, fuel consumers, and the economy,” Shields concluded. “We are proud to see Nebraska continuing the drive toward energy independence fueled by American-made E15.”
Nebraska is the second largest bioethanol-producing state but ranks 45th for bioethanol consumption with a blend rate of just 9.7%.